LATVIJAS BALZAMS                                                   25.11.2005

			

NINE MONTH TURNOVER OF AS “LATVIJAS BALZAMS” INCREASES BY 22% COMPARED WITH THE NINE MONTHS OF 2004



RIGA‚ November 25, 2005 – During the first nine months turnover of a/s 

“Latvijas balzams”, the largest alcohol manufacturer in the Baltics, has 

grown by 22 % and has reached Ls 50,3 million, which is a Ls 9 million 

increase over the same period of 2004. The company profit for three quarters 

was Ls 2 million. 



“During the last couple of years we have worked hard in order to increase 

exports of our products. Positive results of our operations is a proof that 

we are succeeding. Recently we announced start of vodka deliveries to the 

200 shops of Norwegian state monopoly “Vinmonopolet”,” says Rolands Gulbis, 

CEO of a/s “Latvijas balzams”.



Strong export increase

Comparing with the nine months of previous year, exports of a/s “Latvijas 

balzams” brand products, as well as fullfilment of  “S.P.I. Group” export 

orders, has resulted in a total export increase by 45,5%, reaching 

Ls 16 million. Basis for the export growth is acquisition of new trade 

channels and new markets, as well as expansion of business operations in the 

markets already acquired.



During nine months of this year the export of Riga Black Balsam has increased 

for 8 %. This year a/s “Latvijas Balzams” has started exporting Riga Black 

Balsam and sparkling wines to France, but Riga Black Balsam and liquor 

“Šarlote” – to Spain. In the nearest time it is planned to start exporting 

Riga Black Balsam to Italy. 



The amount of sparkling wine export has been increased for 53% to Kaliningrad 

in Russia and the amount of sales of Riga Black Balsam and sparkling wine has 

been increased for 40% in Denmark. Export to Estonia has been increased for 

20%, in Estonia the export of “Riga Sparkling wine” has grown most rapidly. 

Also, the cooperation with the Lithuanian Lukoil petrol stations has been 

considerably expanded. At the moment the production of a/s “Latvijas Balzams” 

can be bought in all 114 petrol stations of this chain.



About a/s “Latvijas balzams”

During the last two years‚ a/s “Latvijas balzams” has significantly 

increased production of light alcohol drinks and fulfilment of “S.P.I. Group” 

export production orders. In total a/s “Latvijas balzams” produces over 130 

different beverages of which about 50% are beverages with low alcohol content. 

The main shareholder of “Latvijas balzams” is S.P.I. Distilleries.B.V., which 

owns 87,98% of company’s shares , is a Dutch subsidiary of  “S.P.I. Group”.



Rolands Gulbis,

CEO ‚a/s “Latvijas balzams”.





For additional information please contact:

Ingars Rudzitis, phone: 7814232, mobile: 6176688, E-mail: ingars.rudzitis@sab.lv